This week, Farai Chideya spends more time with the sparkling roster of Our Body Politic contributors. Errin Haines of the 19th predicts the most important political stories of 2021 for women of color. Mutale Nkonde of AI for the People shares her secrets to envisioning success. Psychologist Dr. Ryan DeLapp offers advice to parents about having conversations on race and resilience with their children. Newsy reporter Casey Mendoza reflects on the successes and failures of 2020 in entertainment. Forbes reporter Ruth Umoh looks back on how the year impacted Black women.
EPISODE RUNDOWN
3:27 Errin Haines reflects on 2020 and predicts what could happen politically in 2021.
7:39 Haines says Black women were key figures in politics in 2020: “as crucial part of the electorate, you definitely saw Black women flexing their power in 2020.”
14:18 Mutale Nkonde of AI for the People takes listeners back to being inspired by Oprah 20 years ago, and how those practices helped her work towards her future.
15:42 Nkonde describes how she envisions and reaches the goals she sets for herself professionally.
17:54 Nkonde talks about Dr. Timnit Gebru’s studies on racism within facial recognition technology.
24:50 Dr. Ryan DeLapp, an attending psychologist at Montefiore health system in the Bronx, explains the mental health impact Covid is having on children.
26:56 Dr. Delapp says reorganizing routines will be important as things continue to change with the pandemic.
29:23 Dr. DeLapp explains that having a conversation with children about race should start from a place of pride.
32:30 Casey Mendoza gives updates on the major gains and losses in entertainment in 2020.
25:45 One group that has emerged with the pandemic is the National Independent Venue Association or NIVA, a lobbying group for venues across the country.
37:28 Mendoza offers a glimmer of hope for the upcoming year.
38:52 Ruth Umoh recaps the financial ramifications of 2020 for Black women and all women of color.
39:52 Umoh discusses why she thinks Black women should invest more in the stock market, especially since it’s been fruitful during the pandemic.
44:34 Reflecting and looking towards the New Year with the Our Body Politic team.
Farai Chideya:
Thanks for listening and sharing Our Body Politic. As you know, we’re new and creating the show with lots of input from listeners like you. So I want to ask you a small favor: after you listen today, please head over to Apple Podcasts on your phone, tablet, laptop--or anywhere you listen--and leave us a review. We read those because your ideas matter to us. Thanks so much.
This is Our Body Politic. I'm the creator and host Farai Chideya. Usually we bring you a mix of national newsmakers and our own contributors. This week we're bringing you a special episode that keeps things all in the Our Body Politic family. Our contributors help us cover everything from politics to business and entertainment, plus how we can envision our collective future.
So today, we bring you our sparkling roster of contributors plus one guest who tells us how to prepare the children in our lives for big transitions as we head into the new year.
But first, let's start with our very own Errin Haines. Every week Errin Haines joins us for a segment we call "Sipping the Political Tea." Errin is editor at large of the 19th, a nonprofit nonpartisan newsroom reporting at the intersection of gender, politics and policy. I asked her to help us ring in the new year by taking stock of what we just went through last year, and predict what might come next. Hey, Errin.
Errin Haines:
How's it going?
Chideya:
Time keeps on slipping into the future and we're here to recap 2020 and talk about 2021.
Haines:
Oh, yes.
Chideya:
Georgia is on my mind. Any thoughts about the runoff coming up?
Haines:
Yeah. Look, I think that the closer we get to January 5th, the more attention is going to be on Georgia, both from a national perspective. And then voters just really kind of locking in and becoming more aware and maybe even turning out based on their newfound swagger as a blue state, wanting to kind of double down on November's results. And take control the Senate, who knows?
Chideya:
So what lessons do you think we can take from 2020 into the future of American politics when it comes to Georgia?
Haines:
Yeah. Look, I think it's time to get serious about voting rights. 2020 was a year where we lost probably the biggest champion of that issue, Congressman, John Lewis. And his memory loomed pretty large over the election. Not only in Georgia, but I think really, for Black voters, and for everybody who cares about the integrity of our democracy. And so this is not an issue that we should be waiting to deal with just every four years when it's time for an election. It's time to deal with this now and to reject really the politics of voter suppression, regardless of what party we're in.
Chideya:
So now that it is a brand new year, thank goodness, what are you looking forward to covering?
Haines:
Oh, wow. Well, listen, we are just a few weeks away from a historic vice presidency, with Kamala Harris being the first woman, the first person of color to be the second most powerful person in the country. And we're going to see what that looks like. And so that, obviously, at the 19th, is just a tremendously interesting prospect for us. From a political and policy perspective, and what that has the potential to do for the country, the electorate's imagination around women and governing.
But I think also seeing an even more diverse Congress that is more diverse in terms of gender and race. And how women and women of color bring their lived experience into shaping policy, particularly as this country struggles to reopen. And we know that women in marginalized communities are struggling mightily to make sure that they can return to our society safely. How the vaccine is going to be rolled out, childcare and how that is going to be addressed on the other side of this pandemic. All of the inequalities that were laid bare during this coronavirus crisis and what the new normal is going to be not only post pandemic, but really around systemic inequality in America.
Chideya:
Now, 2020 definitely had its downsides, but one of the upsides was the launch of The 19th.
Haines:
Thank you.
Chideya:
Tell us a little bit more about what your plans are for this publication, as some one of the key staffers who's carrying the torch.
Haines:
Oh, wow. Listen, thank you for mentioning that. I cannot believe that we're coming up on almost a year since we launched. We launched January 27 of 2020. And it has been a wild ride. I just think about all of the journalism that we were able to do in 2020 even in the midst of a pandemic, where we saw women really being directly impacted by and responding to Coronavirus. And so even as the campaign trail kind of vanished under our feet, we were still able to tell the stories that were vital to our membership and that really helped us to grow and establish the need for our existence. And I think that our members are certainly really excited about and I know I'm excited about the journalism that we're going to do as we continue to grow. And we continue to focus on the things that we know, matter to them.
So yeah, I cannot say enough about the need to continue to reshape the narrative around gender and politics in this country. But we will have not only even more of a case to make in 2021, but we will have even more opportunities to show how women are governing. But also women continuing to run and maybe even win elections. There are Black women running for governor of Virginia, for example, that could be historic. First, again, there's never been a Black woman governor, in the history of this country that could happen. The Atlanta mayor's race, is going to be another one that I'm paying attention to. So a lot to unpack in 2021 and I'm really looking forward to it.
Chideya:
So Errin, I want to take it a little more personal. You spent the ... Exactly you should be afraid. But you spent this election season in Philadelphia and spoke to us about how long you waited in line. And your life intersects with, as mine does with just the everyday lived experience of being a Black woman in this country. Where do you think we are in terms of having the power and respect that we deserve as citizens in a country that is very fraught right now. What are you looking forward to, what are you concerned about?
Haines:
Well, listen Farai. I think as a crucial part of the electorate, you definitely saw Black women flexing their power in 2020, in a huge way. And I think that is something that is being reflected in the emerging Biden administration. And that could be reflected in how the lived experiences of Black women could translate into policy at a federal state and local level across this country. So I think that Black women are really just getting started. I think that the election was the first step for a lot of them in terms of continuing to hold this country, this government accountable in terms of their priorities, and how they want to see the people that they have elected, really showing up and governing with them in mind.
This pandemic, we know, was uneven, it was unequal. In the year that, pretty much year that we have mostly been locked down. And the reopening also has the potential to be unequal when we know that women of color are the essential workers, the home health care workers. A lot of the folks who have had to make the very difficult choice between their health and their economic health. Too many Black women in this country are still being marginalized, are still in need of policies that address, systemic racism, the wealth gap, you name it. And so while I think that, from a political power perspective, we have certainly made some progress, we still have a long way to go to bring so many of the folks that have been unseen and unheard into our democracy.
Chideya:
So Errin, one of the reasons I started this show was because I had a question, and the question was, what do women of color have in common and how are we different when it comes to politics across racial lines, religious lines, geographic lines, women of color are extremely diverse. And so as a political reporter, how do you think about this whole question of what women of color are as a super demographic and what we need to keep our eye on there?
Haines:
Yeah, absolutely. So one of the things that I said in 2020, about this election was that women were going to be the deciders. And I think that, that proved to be true across racial lines. Whether it was the white women who overwhelmingly continue to support President Trump or whether it was the Latina or Black women who we know, tend to be the matriarch of their societies. Who were really pushing and galvanizing and mobilizing their households, their communities to get to the polls this year. But women are also the deciders at home. And that has been so crucial in this pandemic. I think that's going to continue to be true as we look to reopening. And so that is something that I think that we saw in action in 2020 and that we are going to continue to see in action in 2021.
Chideya:
Thanks so much Errin.
Haines:
Thank you. Happy New Year.
Chideya:
Happy New Year. That was Errin Haines award winning journalist and editor at large at the 19th.
Every week, I ask listeners to participate in the show by calling our platform speak. This week is no exception and we'd like to know how are you coping with the pandemic. It could be how you're coping financially, how you're coping emotionally, what tools you've learned from the last year that you're carrying with you into the new year. And on my end, I really doubled down on meditation and emotional wellness.
I have friends who have come near death from COVID. I have other friends whose family members have died of COVID. I've spent a lot of time trying to figure out how to relate to my family when we can always be together physically. So that's what I'm doing and I want to know how you're doing. If you'd like to leave us a message call 929-353-7006. That's 929-353-7006 to leave us a voicemail, or go to ourbodypolitic.show. Yes, dot show is a thing and scroll down to find a Google forum to respond in writing and let us know how you're coping with the pandemic. Thank you. Coming up later this hour.
Mutale Nkonde:
And that is a key part of this visioning process. It's like not what do I need now, but what would I need in five years, four years, three years, two years, one year and then moving towards it, as if you've only got six months to live.
Chideya:
A New Year means new hopes and boy do we need some hope right now. Our friend and tech contributor Mutale Nkonde has made some big moves in recent years. She launched and became CEO of the organization AI For The People, which tracks and battles disinformation against Black communities among other things. And she's here to share how she changed her outlook on her career and how that paid off in big ways. Welcome Mutale.
Nkonde:
Farai, how are you?
Chideya:
I am doing great. And you know what, good riddance to bad rubbish. 2020 hit the road Jack. And so we are here to talk about, I understand that you have a visioning ritual. I want to know more about that.
Nkonde:
Yeah, sure. I really for probably the last 15 years, starting to think about what would I need to have in place, who would I need to know, and what money would I need to get to where I want to be in the next year?
Chideya:
I love that.
Nkonde:
Yeah. And I thought everybody did it Farai.
Chideya:
Now you're just a genius but we knew that. So how do you deal with that basic question of visioning meets reality?
Nkonde:
I don't really care for reality. Years ago, probably close to 20 now, Oprah Winfrey when she had her show, had Dr. Scott M. Peck on the show, and they were talking about his book, The Road Less Traveled. And in that book, he talks about start with the end in mind. And then a few years later, I was being really introduced again, through Oprah, to more than like practices and the idea that you can't hold on to outcomes. And after I got those two together, I was just like, Look, let me have a plan, whether it works or not, is irrelevant. But if I'm constantly building towards my future, then I'm going to get something that I want.
Chideya:
Yeah. Let's get into mechanics. I love notebooks. I'm not always faithful. I used to be a daily journaler, I'm not every day now. But are you a pen and paper person? Do you post a note, how do you accomplish this documenting your vision?
Nkonde:
I came from TV that was my life in journalism, so I'm a big picture person. So when I discovered vision boards, I found that really helpful. But it's even more kind of random and vague than that. I will just meditate often on an idea and not in a trained way but I will just think what we really need in the world is and put it out there, and then just start moving towards it. So really about two years ago, I met with some funders. Actually, I have a nonprofit, and I was saying, what we need in the world is to tell better and new stories about technology. I had no money, I didn't know anyone who would enable me to do it, had no way of moving forward. And two years later, we just started shooting the first part of what will become a film.
Chideya:
Wow, that's incredible. So what do you do when you actually succeed? And what you were just saying about this manifesting in your life. Sometimes success can be overwhelming, and you've been doing a lot.
Nkonde:
It is. It's actually really emotional and this is where having a network of support becomes really important. I feel even coming into this show, and coming in as a contributor is part of that sisterhood of ridiculous ambition, right? The show didn't exist six months ago and yet, here we are, and it's become a part of my life. And certainly with the technology story that I told you, I would never have been able to envision that this would manifest at a time where Dr. Gebru from Google had been forced out for doing really similar work. And that type of not just success, because I've reached a goal but also, think about you've done it now, you've thought about it, you've aligned the people, you've aligned the money, you have the spirit, now you actually have to do the thing. And that is the most scary.
Chideya:
You mentioned Dr. Timnit Gebru, who was thoroughly tossed from the Google family. Who is she, what does she do, what happened?
Nkonde:
Yes. So Dr. Gebru became really famous after writing a paper with Joy Buolamwini on racism within facial recognition. It could not recognize Black faces, and really has set off a global conversation about whether we should be using the technology. And the film that AI For the People, which is my organization or executive producing is based on the way facial recognition was used in the context of protest around George Floyd. So it was really personal, her firing to me.
Chideya:
Well, Google would say that she resigned, because essentially, Dr. Gebru said that she wanted certain questions about how Google used and recognized the paper to be met. And if they weren't, she would resign. And I only mentioned that because all of this stuff gets very legalistic. And I can only imagine, though, I don't know that there is possible legal action happening in a case like this. So you're someone who is a journalist who has become a recognized expert on technology, including AI and disinformation. But how are Black women treated in technology as an industry?
Nkonde:
We're treated like we're not wanted, and we're not needed. And this is just because the Timnit story is also coming off the back of another woman, Ifeoma Ezeonu I believe, you say her name at Pinterest. Who's just sued Pinterest for she wasn't being paid equitably for her work, and ended up being really chastised in a job evaluation situation, because she'd been responsible for pushing off plantations, as a place people were recommending to have weddings. And her manager had said that she very much failed to point out the benefit of plantation living and plantation tourism. And that was the reason she couldn't get a raise.
So I bring up those two stories in conversation because I agree, we have to be really cognizant that there is another side in each of these. But those two case studies, you just think these are people that design the future, and they're designing a workforce that excludes and pushes out Black women.
Chideya:
So when you vision, when you're doing this visioning process, what are you visioning for Black women and technology for Latinas and technology for just people and technology. What would you like to see?
Nkonde:
I actually had thought about this about five years ago. And I visioned what freedom would look like professional freedom. And it turned into an entrepreneurial venture, which is the work that I do now with AI For the People. And five years ago, I was much more optimistic but it really was a feeling. So much of the visioning work that I do is based on how do I feel about something at the present time and then how do I want to feel about that?
So there's so much projection of, I want to feel safe, I want to feel valued. I want to have compensation in which not only can I take care of my day to day but I can save and create. Have access to joy, as well as generational, what does generational wealth look like? And so I was thinking about that five years ago, which means that I'm actually positioned in this moment, January 1st 2021, to realize. And that is a key part of this visioning process. Is like, not what do I need now but what would I need in five years, four years, three years, two year, one year, and then moving towards it, as if you've only got six months to live.
Chideya:
As we wrap up, we're doing work with the Guild Of Future Architects of which you're a member on visioning the future. Tell us just one small concrete thing that is on your 2021 vision board.
Nkonde:
Being open to allowing other people to make mistakes, with the same level of compassion that I have when I make mistakes. And that's a lot of personal work. I think the emotional labor that is involved in stepping towards your future is real. And that needs to be a concrete thing that people commit to, if they want to manifest in a way that I've been blessed to manifest. Because part of the reason I said yes to this show, part of the reason we're doing this project, even with the disinformation work, and all of these other things, but it was a collaboration. And so that's where I'm grown towards.
Chideya:
Well, in the spirit of collaboration, thanks Mutale.
Nkonde:
Thank you, such a pleasure always.
Chideya:
That was Mutale Nkonde, CEO of AI For the People and a new contributor on Our Body Politic for all things AI tech and more.
Coming up later this hour.
Ruth Umoh:
Black women have certainly experienced financial losses this year. For starters, having a job that provides a steady income is a precursor to attaining financial security. Especially for Black woman who generally don't have a family inheritance as that monetary buttress. Unfortunately, job losses during the Coronavirus downturn have fallen hardest on Black people and much of that is driven by Black woman.
Chideya:
You're listening to Our Body Politic.
All of us have had to deal with the pandemic, the political unrest and the general anxiety brought on by everything that's happened in 2020. Our children have been feeling it too. We invited Dr. Ryan DeLapp to help us build resilience in our young ones and ourselves. Dr. DeLapp is an attending psychologist at Montefiore health system in the Bronx. He specializes in working with anxiety, depression, racial and cultural stress and works with kids, adolescents and young adults. Dr. DeLapp says he's seen a big difference in his patients since the pandemic started.
Dr Ryan DeLapp:
I think it's the Zoom fatigue, having your face on camera and seeing yourself while you're talking is not like how it is in real life. And so I've noticed a lot of people are feeling very uncomfortable with seeing themselves more so. I've also noticed people being more avoidant of social experiences. And so, which can have big consequences in terms of one's mood and feeling more sad and depressed, if you're not really getting that social reinforcement of engaging with others that you might otherwise get outside of a pandemic.
Chideya:
As we've been reporting on this show, children and communities of color are suffering disproportionately. A McKinsey study from last summer predicted a learning loss of seven months for the average middle school student as a result of the pandemic. But the model predicted that, that number is nine months for Hispanic students and 10 months for Black students. For those of us who are parents or have kids in our lives that we love, what can we do to support them? Dr. DeLapp has ideas.
DeLapp:
Well, I think parents can support them by first helping their kids to have language for what they're experiencing. I think sometimes parents or adults can notice these concerns without their kids fully understanding what's going on. So I think the first step would be helping your kids to have a language for and there's a couple of ways that can happen. For younger kids, you can get things like mood flip books, and help them to kind of understand their emotions a little bit better, help them to give a name to anxiety. And for older kids like adolescents, helping the kids to understand how their anxiety might be getting in the way of their goals, whether it's if the kids are really motivated in school, helping them to see how that anxiety is not really helping them.
Chideya:
The new year brings even more transitions. How can parents help their children cope with more changes?
DeLapp:
So I think parents can model to their kids, certain concerns that they have about transitioning back. So to kind of normalize this as an experience that their kids can maybe speak to for themselves and their own perspective. The second thing I would think about is in terms of reemerging is routines. Our lives have shifted in terms of oftentimes sleep, oftentimes in terms of electronic use, and downtime and things along those lines.
So as the world starts to "open back up" it's trying to reorient or schedule to a schedule that is commensurate to that type of lifestyle. And then another thing I would think about is, I call this like flexibility goals or brave goals. And so what I'll do with families is I'll have everybody in the family, mother, father, grandmother, if they're living there, older brother, younger sister and the identified person that I'm working with. And I'll encourage them all to identify personal goals that they have for themselves, about how being flexible when they go back to school or bravery, things that they're anxious about. And then this creates a sense of accountability as a family that everybody's working towards. And then also it creates a sense of reward and excitement as everybody is making progress towards their individual goals. So it creates this family transition plan that I think is really important.
Chideya:
Dr. DeLapp just mentioned bravery. Bravery, or grit or resilience are things he works on a lot with his patients. He says developing this is all about understanding them as a set of skills that can be taught and strengthened.
DeLapp:
And some of the skills I think that goes into grit and resilience are things like goal setting, and sticking to a goal and persisting through the emotional discomforts that come as you work towards a goal. Flexibility, and understanding like we all are having to do that. We may have goals that we want to achieve, but then when circumstances get in the way, we may have to be flexible in readjusting that goal. And then also understanding things like bravery and how when we feel nervous about things, how we can persist in our efforts.
And lastly, and this is something I've talked to a lot of adults about, is this idea of reward and self reward. How can you congratulate yourself and have gratitude for the efforts that you're making? So those are some of the things that I try to break down when parents talk about this idea of wanting their kids to grow on resilience, is how can we create interventions or activities that work on each of those different components.
Chideya:
Part of the work that Dr. DeLapp is doing a lot of recently is working with families on the pressure children are feeling around the discussion of race in our country. He says it's an opportunity to engage in racial socialization, which is about the way that parents talk to children about race and racism.
DeLapp:
The younger the kid is, I think you have to be more aware of what the kid's understanding of race and difference and that sense of others really is, and how do you educate them about that. And whether that's through watching different shows, or reading certain books, or sitting down and talking about your family and your culture and things along those lines. And then the second thing I've encouraged parents to do is not start from a place of, what, how other people might see something wrong with you, but start from a place of pride. Like what is beautiful about your race and your color and your background? What are the traditions that your family tries to uphold?
There's an anxiety that can sometimes come with feeling different, or an anxiety that can sometimes come with fearing that someone will see you as less than what you want to be seen as. And so I think that having a source of pride is kind of like having a foundation, or I think about like a house. And like a house if it's built on a solid foundation, then it gives it a little bit more sturdiness. And so I think that's a good way to help kids to embrace this sense of different doesn't always mean less than or worse. It can mean that it's still beautiful and helping families to start to have those conversations.
Chideya:
That's Dr. Ryan DeLapp, psychologist at Montefiore health system in the Bronx. You can follow him on twitter at Dr. DeLapp PhD. That's D-R-D-E-L-A-P-P, P-H-D. Thank you, Doctor.
Coming up next.
Casey Mendoza:
The pandemic really reminded me how much of entertainment and pop culture is rooted in large physical gatherings. From like packed movie theaters or concert halls to the infamous crowds of something like San Diego Comic-Con. That physical aspect of entertainment is the industry's biggest disadvantage during the pandemic. But the community aspect of pop culture and the strength of fandoms will survive and help recoup losses as much as it possibly can in the new year.
Chideya:
You're listening to Our Body Politic. I know that so many of us have been watching more TV than ever since the pandemic started. And that's just one reason that the entertainment industry has been up ended in 2020. Here to help us understand the big highs and lows and entertainment and media, is our entertainment business contributor Casey Mendoza. She's a reporter for the video news platform Newsy. Welcome, Casey.
Mendoza:
Hi.
Chideya:
So who was the most successful in the entertainment business in 2020?
Mendoza:
The biggest winners this year, were really streaming platforms. Big players like Netflix, Hulu, Disney plus, etc. But even beyond the big players, we saw smaller, more niche companies like Crunchyroll, which specializes in anime specifically, really grow as well. And to throw in some numbers, researchers from parks associates just announced that 45% of US households now subscribe to three or more streaming services. And compare that to 2019, the number was just 27%. So that's huge growth.
Chideya:
Let's flip the question. Who had the hardest time in 2020, who was on the struggle bus and suffered the biggest losses?
Mendoza:
It would be an understatement to say it's been a tough year for everyone. Millions of people are out of work and that includes the majority of entertainment workers around the country. And one thing I want to clarify is that when I say, entertainment workers, I don't mean celebrities or executives who have the means to get by and stay at home comfortably. I'm talking about the stage workers, or hair and makeup artists or box office employees that really make up the foundation of the industry.
Mendoza:
But even beyond people that work in film and television, the live events industry has been hit really hard as well. So a common thing I heard when I covered the issue was that live events, so like live indie music venues or small businesses that specialize in event planning, they were the first to close and they'll likely be the last reopen. Yeah, concert halls, indie venues, caterers, more than 80 independent music venues in the country have closed since March. And the president of the live events coalition told me earlier in the summer, that more than 60% of all those involved in the industry have either seen a reduction in pay, or a complete loss of business.
Chideya:
Yeah. And since you have been following entertainment for quite a while, what has surprised you about this year of media and the pandemic?
Mendoza:
I don't know if there was anything that really surprised me necessarily, but one thing I noticed recently was that my expectations changed a lot as the pandemic continued on. For example, back in March, I never would have expected Disney to send its live action remake of Mulan straight to streaming. That movie was originally guaranteed to make around $2 billion in movie theaters.
But then during the summer as the pandemic continued, and movie theaters continue to see losses and lower their expectations, I wasn't really surprised when Disney then decided to forego with theatrical release. Those shifts in expectations happened constantly during the pandemic. So business wise, nothing else ever really surprised me. But something that I didn't expect to see actually happened more politically. And it goes back to our conversation about the losses faced by indie music venues. Before the pandemic, the industry had never really had to advocate for itself on a national political scale. But because of the lockdown measures and the closures, several in the industry formed what is called the National Independent Venue Association or NIVA, which is a lobbying group meant to recognize and support venues around the country and lobby for federal financial support.
I've written two stories on the organization since March and even though again, it's newly formed. It has over 2000 member venues. And its efforts have found really strong bipartisan support from people like republican senator John Cornyn of Texas, or democratic senator Chuck Schumer of New York. Both states have such rich histories in live music. So it really shows how almost unifying this issue is. And that's been kind of something that has been uplifting, but also a little unexpected.
Chideya:
So that sounds like a possible ray of sunshine for entertainment industry workers in the new year. Anything else that looks hopeful?
Mendoza:
Yeah. The truth is as much as I don't know exactly or logistically what can be done to recoup these losses and help these workers out in the new year. I do have like a conceptual answer, because the pandemic really reminded me how much of entertainment and pop culture is rooted in large physical gatherings. From packed movie theaters or concert halls to the infamous crowds of something like San Diego Comic-Con, that physical aspect of entertainment is the industry's biggest disadvantage during the pandemic.
But the community aspect of pop culture and the strength of fandoms will survive and help recoup losses as much as it possibly can in the new year. And we've seen instances of this community support already, from when I mentioned, the community actions of NIVA being able to grow so quickly because there are fans all over the country. To indie bookstores getting windfalls of donations to stay in business. To even silly virtual table reads of shows like community, or Parks and Rec fundraising for COVID relief efforts. All of that was a glimmer of hope, like you said. Something that will make me at least cautiously optimistic about the future of entertainment.
Chideya:
Well, Casey, I really look forward to our future conversations and thanks so much for joining us.
Mendoza:
Thank you for having me. This is so much fun.
Chideya:
That was Casey Mendoza, Newsy reporter and entertainment business contributor at Our Body Politic.
Now it's time for S"how Me The Money," our business segment with Our Body Politic contributor Ruth Umoh of Forbes magazine.
In this episode, I ask Ruth to recap the year that Black women had financially and offer some advice on how they can improve their financial situation in 2021 and beyond. Welcome, Ruth.
Ruth Umoh:
Happy to be back.
Chideya:
So we are going to talk about what makes us stronger. How Black women and all women of color can plan for the future. But we have to start with a bit of pain, which is what happened financially to women of color in 2020?
Umoh:
Black women have certainly experienced financial losses this year. For starters, having a job that provides a steady income is a precursor to attaining financial security, especially for Black women who generally don't have a family inheritance as that monetary buttress. Unfortunately, job losses during the Coronavirus downturn have fallen hardest on Black people and much of that is driven by a Black women.
And so when jobs are scarce, they're obviously unable to bring in income or to access employer sponsored retirement plans. And so they really have to be creative and seek out other options and side hustles. Also, among Black women, were seeing this troublesome failure if you will, to invest in stocks because they're viewed as a riskier option.
However, what we've seen is that, this inactivity in stock market trading, for those who have the means to do so, is one of the reasons for the lack of wealth among African American women. And while it's more high risk to invest in stocks, Black women's reluctance to do so, means that they're really shortchanging themselves in yield and less of a return in the long term. During the pandemic specifically, it also means that they missed out on soaring stocks, especially tech stocks, as Wall Street soared to record highs.
Chideya:
I'm one of these people who has a retirement account but I was someone who in the past dipped into that, paid a heavy tax burden and penalty on it. And I understand a lot of people who have retirement accounts and not everyone does, who have been hit by the financial impact of the pandemic or thinking about taking out that money. Why is that so complicated?
Umoh:
It's quite complicated, especially if you're dipping into your 401k, or traditional Roth IRA account. Because, first of all, you're usually subject to income taxes, and there's a 10% penalty on the amount you withdraw. It's a little less problematic, the older you are because that money has had time to compound, especially if you have diversified stocks. If you're someone whose younger, financial experts will often tell you to exhaust all other needs. If you can find a freelance work do that. If there's an entry level job that you can take, do that. Your retirement savings are there to do exactly that. They're meant to be a safety net and a financial cushion when you do reach retirement age around 60 to 65.
Chideya:
For some people, investing in the stock market at a very specific level, like I want this stock, this stock and this stock seems totally normal for other people, including me, I wouldn't really know where to start. So what are the options for having an index or having someone else take a look at the market?
Umoh:
Yeah. So there are a few things you can do here. If you're someone who's a complete new beginner to invest in, I often say check out some of these smaller apps like Acorns or Robin Hood, where you can buy shares of a company. You can put in $30 into ETFs or mutual funds. Those are just some small ways to really get your feet wet and again to build up that financial acumen as you begin to invest more and more in stocks.
Again the younger you are the earlier that you want to get into this game, because it does compound. That interest compounds, and it can be worth quite a bit when you're 40 years old, when you're 50 years old. Reach out to a financial advisor, that's one key mistake that Black women often make. Is that they're not reaching out to someone who again has a financial knowledge. A quick Google search will lead you to a number of free resources and educational programs for those who are fairly new to the investing game.
Chideya:
So let's get to the impending new year. So what's your personal financial advice for the year ahead?
Umoh:
This year in particular has truly taught us the importance of having an emergency fund, especially for healthcare needs. So the rule of thumb is to put away at least three to six months worth of expenses. Also, make sure to budget relentlessly, especially if you're a business owner, or a freelancer or working in a space where you have to be really entrepreneurial. Along those same lines look for cost cutting measures, if you can. The beauty of this pandemic one of the few silver linings is that many of us are able to work from home.
And so this remote work has allowed many of us, myself included, to be able to move back in with our parents so we don't have to pay for rent, or to areas where the cost of living is low. So make sure that you're taken advantage of opportunities such as this one. And finally, and perhaps most importantly, for Black woman, make sure that you're living within your means. And as we know, once you're in debt, it takes a very, very long time to dig yourself out and to get back into a healthy financial position.
Chideya:
Ruth words to the wise and some of these lessons I had to learn the hard way hopefully some of the folks listening don't. Thanks a lot, Ruth.
Umoh:
Thank you for having me.
Chideya:
Ruth Umoh is Forbes's Dversity and Inclusion reporter, and our business and economics contributor on Our Body Politic.
Looking back at a year of complete and utter chaos. I find myself feeling really grateful for this show, especially for you, our listeners and the team that helps me make this happen. So I asked the Our Body Politic team, what did you learn in 2020 that you want to take with you into 2021? And here's what they said.
Paulina Velasco:
I'm Paulina Velasco, and I'm the senior producer for Our Body Politic. And one thing that I want to bring into 2021 from this past year, is a practice of or the ability to maintain a sense of equanimity. In the face of lots of changes and lots of news I feel like I got pretty good at trying to maintain an even composure.
Michael Castañeda:
My name is Michael Castañeda, and I'm a production assistant for Our Body Politic. And one thing that I will take from 2020 into 2021, is that even though personally this was one of the most difficult years for me professionally, it was one of my best. And I know a lot of people can't say the same thing. So I'm optimistic about going into next year.
Juleyka Lantigua Williams:
Hi, this is Juleyka Lantigua Williams. I am the show's executive producer. And the one thing I want to take from 2020 into 2021 is my awareness that I need to slow down. I think this year, a lot of people really realized how important it is to just slow down. A lot of it had to do with external circumstances that were beyond our control. But I really appreciated that at times, because you don't always have to be rushing to feel like you're being productive.
Priscilla Alabi:
Hi, everyone, my name is Priscilla Alabi. I am the politics producer and booker at Our Body Politic. One thing I'll take from 2020 into 2021, is the fact that rest is not even an option. It's a necessity, and that I am worthy of protection, care and respect.
Mary Knowles:
This Mary Knowles, the political Booker. What I'll take with me into 2021 is a renewed respect for the U.S. Postal Service.
Virginia Lora:
My name is Virginia Lora. I provide production assistance at OBP. And something I'm taking from 2020 into 2021 is this idea that you can never finish getting to know a person. I've gotten to know friends I've had for years, and I thought I already knew on a much deeper level than I could have imagined. So I'm taking that lesson happily into the new year.
Michelle Baker:
My name is Michelle Baker, I'm an assistant producer on Our Body Politic. One thing that I've always known but I think has been highlighted this last year is, just how important it is to be around the people you love and do the things you love doing daily. It's just important to do things that make you happy every single day.
Cedric Wilson:
I'm Cedric, I'm the lead producer and mixer for the show. One of the things I love to do is cook. My signature dish is french toast, and probably out of mostly boredom this year, I spent a lot of time perfecting my recipe. Different spice mixes, homemade compote - the works. Going into 2021 I want to take that similar curiosity and adventurous spirit to other parts of my life.
Mark Betancourt:
My name is Mark Betancourt, I help produce Our Body Politic. And I've learned this year that my family is resilient and we can get through anything if we just focus on each other, right?
Children:
Right. Right!
Chideya:
Me, I am taking my health seriously and that for me means physical, emotional and also spiritual health. It wasn't always easy for me to pick a lane in the vast world of spirituality. I grew up Catholic going to mass every Sunday and then I practiced Buddhism for several years and now I consider myself interfaith. My family includes atheist, Protestants and Catholics and my friends also include observant Jews, Muslims and Hindus as well as atheists and agnostics. At this season, faith can either be an anchor or a bone of contention.
So I choose to honor all the paths my friends and family have taken and to be grateful to have a connection to something bigger than myself. I wish all of you peace inside yourselves and in our shared world. I'm grateful to share the space with you and to look ahead to a new year of Our Body Politic.
Okay, we've got some exciting news. Starting in a few weeks, we're going to switch up our format to give you an even more in depth, insightful conversation with some of the trailblazers, thinkers and leaders you've heard from on Our Body Politic. That means a Roundtable with Errin Haines, a new political contributor, Jess Morales Rocketto. An even more stellar guest breaking down the most important news of the week. Be sure you subscribe to Our Body Politic everywhere you listen to podcasts, and follow us on Twitter @ourbodypolitic. We have a new website too, ourbodypolitic.show.
Thank you so much for joining us on Our Body Politic. We're on the air each week and everywhere you listen to podcast. Our Body Politic is presented and syndicated by KCRW, KPCC and KQED. It's produced by Lantigua Williams & Co. I'm the creator and host Farai Chideya. Juleyka Lantigua Williams is executive producer. Paulina Velasco is senior producer. Cedric Wilson is lead producer and mixed this episode. Original music by Kojin Tashiro. Our political booker is Mary Knowles. Our producer is Priscilla Alabi. Michelle Baker and Emily Daly, are assistant producers. Production assistance from Mark Betancourt, Michael Castañeda, Zuheera Ali, Sarah McClure and Virginia Lora.
Credits:
Funding for Our Body Politic is provided by Craig Newmark Philanthropies and by the Jonathan Logan Family Foundation, Empowering world-changing work.
CITATION:
Chideya, Farai, host. “Futurist Mutale Nkonde on How to Achieve Your Goals, a Psychologist on How to Shape Conversations about Racism.” Our Body Politic, Diaspora Farms LLC. January 1, 2021. https://our-body-politic.simplecast.com/